COVENTRY’S enthusiasm, central location and overall desire for growth makes the city a magnet for investors, according to a development giant, who is set to revamp the area.

Barberry Developments has been granted outline planning permission for a £50 million overhaul of the city’s derelict Royal Mail sorting office and surrounding buildings.

And directors at the Worcestershire-based business are confident their ambitious scheme will act as a catalyst for more great developments in the city.

Coventry City Council last week approved the plans, which will see the neglected part of the city transformed – creating hundreds of jobs – with a new superstore, gym and leisure facilities and a 585-space car park.

The plans also include boulevard-style pedestrianised zones, impressive landscaping, a 8,000 sq ft “green” roof, as well as new pedestrian crossing link to the Canal Basin – which will see the developers replace the current footbridge across the ring road.

And for Barberry Development, this ambitious project, named Bishop Gate, marks an important turning point in its business plan – having put all projects on hold for nearly four years in a bid to survive the challenging economic downturn.

Henry Bellfield, director of the company – which was formed in 1990 – said: “From 2007 up until the middle of last year we were a business which did not undertake any development work, changing the face of the business by moving towards property investment, which was done to cope with the recession.

“I am the youngest director at Barberry and all the co-directors, who have been through four recessions, told me this will not go on forever, but it was an incredibly frustrating time for us.

“As a development business, to not be developing was hard, but we had to take steps to reduce risks for the company. We do not think the market or the economy will radically improve anytime soon, but we do believe we are through the worst of it and the Bishop Gate development is our first project since then.

“This is a return to what we do best and everyone is genuinely excited to be a part of this ambitious project. It really has got the adrenaline going again in our offices.”

Barberry has built up a strong reputation across the country with an impressive selection of high-profile developments.

Since being formed 21 years ago, the firm has delivered some major office developments in Birmingham’s business district, including Temple Court, No 1 Colmore Square and One Colmore Row.

Other projects include the acclaimed Hotel Du Vin and several retail and industrial developments across the UK.

The company has also announced the completion of phase one of its £1 million transformation of the Phoenix Retail Park in Swansea, south Wales.

The popular shopping destination is undergoing extensive improvements including full refurbishment of six retails totalling 65,000 sq ft and a major redesign of the car park and access roads.

A fully-let, extensively refurbished retail investment property in Cheltenham has also recently exchanged hands in a £1.2 million deal. Barberry sold the 6,800 sq ft property in Pittville Street, to a family trust after carrying out a full renovation programme of the former TSB Bank.

The company bought the vacant property in 2008 in a dilapidated state and transformed it into an attractive mixed-use scheme occupied by two retailers and a ladies-only gym with an annual rental income of £100,000.

But Bishop Gate is the company’s first investment in Coventry, so what did the company find so appealing?

“What attracted us to Coventry was the enthusiasm of the city to improve its standing and its ability to attract inward investment. Geographically it is also very central with great road and rail links and particularly in these difficult times, it is fundamentally important to look at these strengths when looking to start a project.

“Coventry has been successful in attracting some big named businesses to the city, such as Severn Trent. And I am confident that this project will be a catalyst for other great developments in the city.

“Something else that is attractive about Coventry is people’s attitude. During the consultation, Bishop Gate received a lot of positive feedback from the public which was very encouraging.

“It seemed to me that people welcomed our plans to create this iconic building which will create employment in the city. Believe it or not, there are a lot of people in other parts of the country who do not welcome change, even if it is for the better and will benefit them and their city.

“We were also impressed with the strength of the leadership at the council and their attitude. They really have been incredibly supportive and have great vision for the city of Coventry.

“When we first agreed to buy the Royal Mail building in August last year, I had a vision, an idea, of what we could do to this building. I realised that I needed to sit down with the council to see if they shared my ideas or had something completely different in mind.

“The initial meeting was very encouraging. They liked the development and even encouraged us to think bigger, which we did and in the end with took on other buildings in Bishop Street – which nearly doubles the size of the site.

“We are grateful for the support of the planning committee and we are pleased that we can now press ahead with our proposals which are very exciting and will create hundreds of jobs for local people.

“Coventry City Council has been very positive in terms of supporting the development proposals. There is a positive sentiment in the council and officers and councillors are motivated to see great things happen.

“We believe our development fits in perfectly with the regeneration master plan for the city centre which sets out the council’s vision for the future.

“We anticipate that we will be demolishing the Royal Mail building by the end of the year and we expect the entire development to be completed within 18 months.

“The next step now is to secure the superstore, which is when a lot more detail will come to light.”

Coun Kevin Maton, chiarman of the planning committee, said:

“Planning has a key role to play in ensuring that major developments like this are appropriate for the location and are the right scale and size.

“We also like to ensure that they contribute to the local community so we welcome the proposal to invest over £70,000 in improvements to the canal tow path.”